Bank of Dudley

Online banking offers more than just convenience—it gives you better control, security, and insight into your finances. Four of the main benefits of online banking are: 24/7 account visibility, holistic money management tools, the ability to simplify everyday banking tasks, and enhanced security features. Whether you’re tracking your spending in real-time or using automated tools to manage your budget, online banking provides the flexibility and protection you need to stay on top of your financial health.

Do you bank online? If not, you’re missing out on an unbelievable amount of convenience, as well as better control of and security for your finances.

Banks have been offering online banking for more than a decade, and about 77% of consumer banking happens on account holders’ mobile phones and computers.

In this article, we’re exploring the four most significant benefits of online banking, like the online services offered by Bank of Dudley.

Benefit of Online Banking #1: 24/7 Visibility

If you’re not banking online, you’ll only get a snapshot of your account status when you get your monthly statement. You won’t see any credits or debits that occur after your statement is printed until the next month’s statement arrives.

With real-time account balance information, you’re better positioned to know your account’s status at all times and keep an eye on your spending throughout the entire month. If you see that you’ve overspent one week, you can adjust in real-time to save a little extra the week after.

Having access to your account data around the clock is helpful when you’re searching for something in your banking history, too. No more thumbing through piles of paper statements, hunting a particular statement or cancelled check – you can search your transaction history in seconds and get back to what you’re doing.

Benefit of Online Banking #2: Holistic Money Management

Most online banking platforms now include money management features designed to help bank customers build and stick to budgets, save for contingencies and special purchases, and become better managers of their personal finances.

At Bank of Dudley, our money management tools include a color-coded personal finance manager. When each of your purchases and income sources are coded and grouped in logical categories, you can see at a glance if you’re overspending on entertainment or undersaving to your IRA accounts.

Online banking tools allow you to easily track, evaluate, and analyze your saving and spending habits and provide you with tools and techniques for looking at your finances as a single, unified picture instead of disjointed lines on dozens of different statements.

Benefit of Online Banking #3: Add Convenience to Common Banking Tasks

Even small, hometown banks like ours get busy sometimes. Why spend time in line at a branch when you can do a lot of your banking quickly and easily from your phone or computer?

Almost any banking task you have to perform on a regular basis can be simplified and managed with online banking:

• Pay bills automatically every month without lifting a finger
• Deposit checks without setting foot inside a bank branch
• Balance your checkbook quickly and easily with real-time account balances
• Set up automatic transfers into your savings account and automate your savings

Benefit of Online Banking #4: Improved Security

As an online banking customer, you unlock a vast suite of security tools that can help you enjoy even better security for your bank accounts.

For starters, the 24/7 access we discussed above isn’t only good for tracking your spending; it gives you a chance to review your balance daily instead of just once a month when you get your statement. If an unauthorized debit or other troubling development shows up, you’re aware of it and can start taking action to correct things immediately.

Online banking also provides enhanced account protection. Over time, your bank learns your spending habits. When a charge is placed or a debit is made on one of your accounts, the bank’s automated systems review the transaction and ask, “Does this make sense?” If the answer is no, the bank can contact you immediately and verify whether or not the transaction was authorized. If it’s not, the transaction is blocked, and you don’t have to go through the process of making a claim to your bank.

Is Online Banking Secure?

We still hear this question a lot from our customers – is online banking safe?

See, here’s the thing: whether you use online banking services or not, your financial transactions take place online. From processing deposits to clearing checks to making debit card purchases, your financial data is being transmitted electronically by every bank and retailer you do business with. So, your banking is already happening online and has been for years, even if this is the first time you’ve ever visited a bank’s website.

Further, all banks’ online banking platforms are required to meet stringent security guidelines. We use two-factor authentication, encrypted connections, and other tools to ensure that your account data is as secure on the internet as it would be locked in one of our vaults.

So, to answer the question, “Is online banking safe?” the answer is “Yes, it’s definitely safe.”

FDIC-Insured, Customer Focused, and 100% Local: Bank of Dudley

Since 1905, the team at Bank of Dudley has remained dedicated to helping our neighbors find financial success. Our local bankers are always ready to help you navigate the complex world of personal and business banking, and we’re 100% committed to helping you find the products and services that work for you – and helping you meet your financial goals.

Call today and discover true relationship banking: 478-277-1500